Although the benchmark indices opened Higher, they traded negative throughout the session and ultimately closed deep in red.
Broader market indices continue to trade in the red, while most sectoral indices face decline.
At the closing bell, the BSE Sensex closed lower by 126 points (down 0.2%)
Meanwhile, the NSE Nifty closed 87 points lower (down 0.4%)
Eternal, Apollo Hospital and TCS among the top gainers today.
Shriram Finance, JSW Steel and Jio Financial services on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,107 lower by 148 points at the time of writing.
The BSE 150 Midcap index is trading 2.1% lower and the BSE 250 SmallCap index is trading 2.7% lower.
Sectoral indices were trading negative today with stocks in metal sector and capital goods sector witnessed selling pressure.
The rupee is trading at Rs 94.92 against the US$.
Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 141,806 per 10 grams.
Meanwhile, silver prices were trading 2% higher at 195,613 per 1 kg.
Why Chennai Petroleum Share Price Is Rising
Chennai Petroleum Corporation (CPCL) shares rose over 5% in intraday trade on Friday, bucking the broader market sell-off. The rally followed a sharp increase in the company's Q2FY27 net profit and its announcement of an interim dividend of Rs 25 per share.
In contrast, the benchmark Nifty 50 fell 275 points, or 1.22%, to 22,410.
CPCL, a subsidiary of Indian Oil Corporation (IOCL), is primarily engaged in crude oil refining.
For the quarter ended 30 September 2026, the company's revenue from operations increased 10% year-on-year (YoY) to Rs 221,090 million (m), compared with Rs 200,690 m in the corresponding quarter last year.
The company's profit after tax (PAT) surged 210% YoY to Rs 22,710 m in Q2FY27, up from Rs 7,320 m a year earlier.
CPCL also reported a significant improvement in its gross refining margin (GRM), which rose to US$20.41 per barrel in the September quarter, compared with US$9.04 per barrel in the corresponding period last year. The improvement in refining margins, alongside higher profitability and the interim dividend announcement, supported the positive sentiment around the stock.
Why Zetwerk Share Price Is Falling
Zetwerk Manufacturing Businesses made its Dalal Street debut on 23 October 2026, but the stock came under sharp selling pressure, falling over 20% from its listing price and erasing its initial 5% listing gain. However, the shares recovered some of their losses during the afternoon session.
The weak performance came despite strong demand from qualified institutional buyers (QIBs). Zetwerk's IPO, which opened on 15 October and closed on 19 October, was subscribed 3.1 times overall. The QIB portion was subscribed 4.71 times, while the retail portion received bids for just 0.77 times the shares on offer.
Analysts attributed the weak listing-day performance to the company's high valuation and persistent losses, which made the IPO less attractive to retail investors.
Another factor was the lack of interest reflected in the grey market premium (GMP). According to an investment banker quoted in the report, retail investors often track the GMP before making IPO investment decisions. Zetwerk's GMP stood at zero ahead of listing, indicating limited grey-market enthusiasm for the issue.
The absence of directly comparable listed peers also made it difficult for investors to assess the IPO's valuation. Without comparable companies to benchmark its financial performance, margins and valuation multiples, investors had limited reference points to determine whether the issue was reasonably priced, particularly given Zetwerk's continuing losses.
Why Metal Stocks Are Falling
Metal stocks remained under pressure for the fourth consecutive trading session on Friday, amid broad-based selling across the market. As of 11:55 am, the Nifty Metal index had fallen 3.5%, making it the worst-performing sectoral index.
All 15 constituents of the index were trading in negative territory. Vedanta Aluminium Metal led the losses, declining 6% to Rs 338, followed by National Aluminium Company (NALCO), which fell 4.6% to Rs 296.70.
Vedanta, Hindustan Copper and Hindustan Zinc also declined by 4-4.5%, trading at Rs 224.90, Rs 395.10 and Rs 496.45, respectively. Other metal stocks, including Tata Steel, Steel Authority of India (SAIL), NMDC, Jindal Stainless, Jindal Steel, APL Apollo Tubes, and Lloyds Metals and Energy, also traded lower, falling by up to 4%.
The continued selling has dragged the Nifty Metal index down around 6.3% over the past four trading sessions, compared with a 3% decline in the benchmark Nifty 50 index during the same period.
The index is now trading around 18% below its record high of 13,931.35, recorded on 15 June 2026.
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